Houston biotech VC firm's portfolio cos. score $5.3M in federal funding

money moves

Three of First Bight Venture's portfolio companies have secured federal funding. Photo via Getty Images

Three portfolio companies of Houston venture capital firm First Bight Ventures have received a combined $5.25 million from the U.S. Defense Department’s Distributed Bioindustrial Manufacturing Program.

“The allocation of funds by the federal government will be critical in helping grow biomanufacturing capacity,” Veronica Breckenridge (née Wu), founder of First Bight, says in a news release. “We are very proud to represent three dynamic companies that are awardees of this competitive and widely praised program.”

The three companies that were awarded Defense Department funds are:

  • Hayward, California-based Visolis, received $2.25 million to plan a facility for production of a chemical that can be transformed into rocket propellants, explosive binders, and sustainable aviation fuel.
  • Alameda, California-based Industrial Microbes received $1.55 million to plan a facility for converting ethanol feedstock into acrylic acid. This acid is a key component used in coatings, adhesives, sealants, lubricants, corrosion inhibitors, and wound dressings.
  • San Diego-based Algenesis received $1.5 million to plan and develop a facility that’ll produce diisocyanates, which are chemical building blocks used to make polyurethane products.

“This award is a testament to our commitment to advancing sustainable materials and will enable us to contribute to both national security and industrial resilience. Our planned facility represents a key step towards securing a domestic supply of critical components for polyurethanes,” says Stephen Mayfield, CEO of Algenesis.

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Houston energy tech co. breaks ground on low-cost hydrogen pilot plant

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Houston’s Lummus Technology and Advanced Ionics have broken ground on their hydrogen pilot plant at Lummus’ R&D facility in Pasadena, Texas.

The plant will support Advanced Ionics’ cutting-edge electrolyzer technology, which aims to deliver high-efficiency hydrogen production with reduced energy requirements.

“By demonstrating Advanced Ionics’ technology at our state-of-the-art R&D facility, we are leveraging the expertise of our scientists and R&D team, plus our proven track record of developing breakthrough technologies,” Leon de Bruyn, president and CEO of Lummus, said in a news release. “This will help us accelerate commercialization of the technology and deliver scalable, cost-effective and sustainable green hydrogen solutions to our customers.”

Advanced Ionics is a Milwaukee-based low-cost green hydrogen technology provider. Its electrolyzer converts process and waste heat into green hydrogen for less than a dollar per kilogram, according to the company. The platform's users include industrial hydrogen producers looking to optimize sustainability at an affordable cost.

Lummus, a global energy technology company, will operate the Advanced Ionics electrolyzer and manage the balance of plant systems.

In 2024, Lummus and Advanced Ionics established their partnership to help advance the production of cost-effective and sustainable hydrogen technology. Lummus Venture Capital also invested an undisclosed amount into Advanced Ionics at the time.

“Our collaboration with Lummus demonstrates the power of partnerships in driving the energy transition forward,” Ignacio Bincaz, CEO of Advanced Ionics, added in the news release. “Lummus serves as a launchpad for technologies like ours, enabling us to validate performance and integration under real-world conditions. This milestone proves that green hydrogen can be practical and economically viable, and it marks another key step toward commercial deployment.”

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This article originally appeared on EnergyCapitalHTX.com.

TMC launches new biotech partnership with Republic of Korea

international collaboration

Houston's Texas Medical Center has launched its new TMC Republic of Korea BioBridge.

The new partnership brings together the TMC with the Osong Medical Innovation Foundation, or KBIOHealth. The Biobridge aims to support the commercialization of Korean biotech and life science startups in the U.S., foster clinical research, and boost collaboration in the public, private and academic sectors.

Through the partnership, TMC will also develop a Global Innovators Launch Pad to foster U.S. market entry for international health care companies. Founders will be selected to participate in the 10-week program at the TMC Innovation Factory in Houston.

“Gene and cell therapies are driving biotech innovation, opening possibilities for treating diseases once thought untreatable," William McKeon, president and CEO of the Texas Medical Center, said in a news release. "Expanding biomanufacturing capacity is essential to delivering the next wave of these therapies, and partnerships with leading innovators will strengthen our efforts in Houston and internationally.”

McKeon officially signed the TMC Korea BioBridge Memorandum of Understanding with Myoung Su Lee, chairman of KBIOHealth, in South Korea in October.

"This collaboration marks a significant milestone for Korea’s biohealth ecosystem, creating a powerful bridge between Osong and Houston," Lee added in the release. "By combining KBIOHealth’s strength in research infrastructure and Korea’s biotech talent with TMC’s global network and accelerator platform, we aim to accelerate innovation and bring transformative solutions to patients worldwide.”

This is the seventh international strategic partnership for the TMC. It launched its first BioBridge with the Health Informatics Society of Australia in 2016. It launched its TMC Japan BioBridge, focused on advancing cancer treatments, last year. It also has BioBridge partnerships with the Netherlands, Ireland, Denmark and the United Kingdom.

Houston startup surge, job forecast, and more trending news to know

Trending News

Editor's note: 2026 is here, and we are heading into the new year with a surge in local startup activity and job growth in the local health care sector. As we look ahead to 2026, here are five trending news stories from InnovationMap, published at the close of the year:


1. New report shows surge in startup activity in Houston and across Texas

Photo by Rome Wilkerson on Unsplash

Houston and the rest of Texas are experiencing a boom in the creation of startups. One barometer of growth in startup activity: The Houston metro area saw a 92 percent rise from 2024 to 2025 in the number of account applications submitted to Bluevine, a banking platform for small businesses. Continue reading.

2. Houston poised to add 30,900 new jobs in 2026, forecast says

The health care sector will lead Houston job growth in 2026. Photo via Houston Methodist

Buoyed by the growing health care sector, the Houston metro area will add 30,900 jobs in 2026, according to a new forecast from the Greater Houston Partnership. The report predicts the Houston area’s health care sector will tack on 14,000 jobs in 2026, which would make it the No. 1 industry for local job growth. Continue reading.

3. UH receives $2.6M gift to support opioid addiction research and treatment

UH has received a new financial gift towards the Michael C. Gibson Addiction Research Program, which is developing a fentanyl vaccine. Photo via Unsplash.

The estate of Dr. William A. Gibson has granted the University of Houston a $2.6 million gift to support and expand its opioid addiction research, including the development of a fentanyl vaccine that could block the drug's ability to enter the brain. Continue reading.

4. These 50+ Houston scientists rank among world’s most cited

UH Professor Zhifeng Ren is one of 50 Houston-area researchers named to Clarivate’s Highly Cited Researchers list for their broad and lasting impact. Photo courtesy UH.

Fifty-one scientists and professors from Houston-area universities and institutions were named among the most cited in the world for their research in medicine, materials sciences and an array of other fields. The Clarivate Highly Cited Researchers considers researchers who have authored multiple "Highly Cited Papers" that rank in the top 1percent by citations for their fields in the Web of Science Core Collection. The final list is then determined by other quantitative and qualitative measures by Clarivate's judges to recognize "researchers whose exceptional and community-wide contributions shape the future of science, technology and academia globally." Continue reading.

5. 6 Houstonians named to prestigious national group of inventors

Vineet Gupta, Eva Harth, Dr. Raghu Kalluri, Todd Rosengart, Sanjoy Paul and Dr. Jochen Reiser have been named to the National Academy of Inventors' 2025 class of fellows. Photos via the institutions.

Six Houston scientists and innovation leaders have been named to the National Academy of Inventors’ newest class of fellows. The award is the highest professional distinction awarded to academic inventors by the NAI. The 2025 class is made up of 169 fellows who hold more than 5,300 U.S. patents, according to the organization. The group hails from 127 institutions across 40 U.S. states. The Houston-based inventors are leading fields from AI to chemistry to cancer research. Continue reading.

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